Long Corridor Asset Management Ltd Invests $3.57 Million in NetEase, Inc. (NASDAQ:NTES)

Long Corridor Asset Management Ltd acquired a new position in NetEase, Inc. (NASDAQ:NTES) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 40,000 shares of the technology company’s stock, valued at approximately $3,568,000. NetEase comprises 2.7% of Long Corridor Asset Management Ltd’s portfolio, making the stock its 12th largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its stake in shares of NetEase by 19.2% in the third quarter. Advisors Asset Management Inc. now owns 16,989 shares of the technology company’s stock worth $1,589,000 after buying an additional 2,742 shares during the period. Citigroup Inc. lifted its stake in shares of NetEase by 6.9% during the 3rd quarter. Citigroup Inc. now owns 50,349 shares of the technology company’s stock valued at $4,708,000 after buying an additional 3,240 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of NetEase by 21.4% in the third quarter. Cerity Partners LLC now owns 5,519 shares of the technology company’s stock worth $516,000 after acquiring an additional 972 shares during the period. Fisher Asset Management LLC boosted its stake in NetEase by 7.8% in the 3rd quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock worth $107,130,000 after purchasing an additional 82,474 shares during the period. Finally, DRW Securities LLC purchased a new position in NetEase during the third quarter valued at $1,011,000. 11.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Benchmark boosted their target price on shares of NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Morgan Stanley increased their price target on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Bank of America lifted their price target on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, Barclays raised their price objective on NetEase from $82.00 to $104.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, NetEase has an average rating of “Moderate Buy” and a consensus target price of $114.57.

NetEase Price Performance

NetEase stock opened at $99.93 on Tuesday. The stock has a market cap of $64.17 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 3.37 and a beta of 0.61. The firm has a 50-day moving average of $101.97 and a two-hundred day moving average of $92.14. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $110.15.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.14. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $27.16 billion. NetEase had a return on equity of 22.12% and a net margin of 28.17%. Research analysts expect that NetEase, Inc. will post 6.91 earnings per share for the current year.

NetEase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a dividend of $0.435 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.74 annualized dividend and a yield of 1.74%. NetEase’s dividend payout ratio (DPR) is presently 76.45%.

NetEase Company Profile

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.